Stocks Ease In Late Trading; Agrium Jumps

Stocks eased off their best levels late Wednesday following the release of the Fed's report on economic conditions.

The Nasdaq pared an earlier 1.4% gain to 1.1%. The Dow Jones industrial average and the S&P 500 were up 0.7% and 0.6%, respectively. Volume was tracking higher on the Nasdaq and a tad lower on the NYSE.

The Fed's beige book noted a "modest to moderate" pickup in economic activity in nearly all 12 districts from June to about July 9. Retail sales and manufacturing expanded slightly in most regions. The report also noted that home sales and housing construction were positive in all districts. But improvement in the job market was lukewarm.

Agrium (AGU) rallied 4% to its best levels in more than a year after raising guidance. Due to strong demand, the fertilizer maker lifted its Q2 profit outlook to $5.40 to $5.50 a share, up from a prior forecast of $4.18 to $4.78 a share.

Despite the market easing off its high, Stratasys (SSYS) stepped up its gain to 12%. Earlier, the stock blew past a 54.47 buy point in a cup-with-handle base. It's now 7% past that trigger. Stratasys has already traded more than twice its average daily volume. The maker of 3D prototyping systems will report earnings Aug. 1. Analysts see profit rising 39% to 32 cents a share.

Papa John's International (PZZA) added 3% to an all-time high in brisk volume. The stock cleared a 50.45 buy point in a flat base Tuesday in volume that grew 20% above average. Turnover should be at least 40% above normal levels on breakout day. Sometimes, volume can kick in late. Papa John's is a thin issue that trades only about 140,000 shares on average.

Healthcare Services Group (HCSG) also followed through on a recent breakout. It added 2% to a record high in heavy trading. It now sits nearly 4% past a 22.18 buy point in a 15-week consolidation. Healthcare Services Group provides housekeeping and maintenance services to long-term care facilities.

On the downside, United Rentals (URI) plunged 11% and sliced its 200-day moving average. Late Tuesday, the equipment-rental firm reported quarterly sales that missed analysts' expectations.

Stocks eased off their best levels late Wednesday following the release of the Fed's report on economic conditions.

The Nasdaq pared an earlier 1.4% gain to 1.1%. The Dow Jones industrial average and the S&P 500 were up 0.7% and 0.6%, respectively. Volume was tracking higher on the Nasdaq and a tad lower on the NYSE.

The Fed's beige book noted a "modest to moderate" pickup in economic activity in nearly all 12 districts from June to about July 9. Retail sales and manufacturing expanded slightly in most regions. The report also noted that home sales and housing construction were positive in all districts. But improvement in the job market was lukewarm.

Agrium (AGU) rallied 4% to its best levels in more than a year after raising guidance. Due to strong demand, the fertilizer maker lifted its Q2 profit outlook to $5.40 to $5.50 a share, up from a prior forecast of $4.18 to $4.78 a share.

Despite the market easing off its high, Stratasys (SSYS) stepped up its gain to 12%. Earlier, the stock blew past a 54.47 buy point in a cup-with-handle base. It's now 7% past that trigger. Stratasys has already traded more than twice its average daily volume. The maker of 3D prototyping systems will report earnings Aug. 1. Analysts see profit rising 39% to 32 cents a share.

Papa John's International (PZZA) added 3% to an all-time high in brisk volume. The stock cleared a 50.45 buy point in a flat base Tuesday in volume that grew 20% above average. Turnover should be at least 40% above normal levels on breakout day. Sometimes, volume can kick in late. Papa John's is a thin issue that trades only about 140,000 shares on average.

Healthcare Services Group (HCSG) also followed through on a recent breakout. It added 2% to a record high in heavy trading. It now sits nearly 4% past a 22.18 buy point in a 15-week consolidation. Healthcare Services Group provides housekeeping and maintenance services to long-term care facilities.

On the downside, United Rentals (URI) plunged 11% and sliced its 200-day moving average. Late Tuesday, the equipment-rental firm reported quarterly sales that missed analysts' expectations.

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Select market data is provided by Interactive Data Corp. Real Time Services. Price and Volume data is delayed 20 minutes unless otherwise noted, is believed accurate but is not warranted or guaranteed by Interactive Data Corp. Real Time Services and is subject to Interactive Data Corp. Real Time Services terms. All times are Eastern United States. *Reflects real-time index prices.